The milestone represents a huge chunk of change for the software giant, with 1 in 4 being paid-for according to recent research from AdMob in August.
The company today announced a string of big numbers to show how popular its App Store has become, a significant coup for Apple, which spotted the potential before any other smart phone manufacturer.
The California-based company said there are now more than 85,000 apps available to the more than 50m iPhone and iPod touch customers worldwide.
Equally impressive is the volume of developers working on apps, with more than 125,000 developers in Apple's iPhone Developer Program
Steve Jobs, Apple's chief executive, said: "The rate of App Store downloads continues to accelerate with users downloading a staggering two billion apps in just over a year, including more than half a billion apps this quarter alone.
"The App Store has reinvented what you can do with a mobile handheld device, and our users are clearly loving it."
The news could help bring back some of the feel good buzz around the brand, following a lacklustre Apple conference earlier this month in which there few noteworthy announcements to generate the usual hype that accompanies the Apple brand.
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